**REGISTERED CHARITY NUMBER: 1198633**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FOR**
## **PRINCE'S DRIVE BAPTIST CHURCH**
Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y Parc Parc Menai Bangor Gwynedd LL57 4FE
**PRINCE'S DRIVE BAPTIST CHURCH**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|10|
|**Detailed Statement of Financial Activities**|11|to|12|
**PRINCE'S DRIVE BAPTIST CHURCH**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The aim of the church is that of the advancement of the Christian faith to the principles of the Baptist denomination.
The church also aims to further educate and carry out other charitable purposes in the United Kingdom (UK) and/or other parts of the world.
In fulfilling the purpose, the church will engage in a range of activities either on its own or with others that will vary from time to time. The activities may include, but are not restricted to;
- Regular public worship, prayer, Bible study, preaching and teaching;
- The Communion of the Lord's Supper;
- Evangelism and mission, locally, regionally, nationally and internationally;
- The teaching, encouragement, welcome and inclusion of young people;
- Nurture and growth of Christian disciples;
- Education and training for Christian and community service;
- Giving and encouraging pastoral care;
- Supporting and encouraging charitable social action;
- Encouraging relationships with and supporting Baptists and other Christians;
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
## **2023 Achievements:**
In 2023 we continued to see to fulfil our stated purpose to advance of the Christian faith according to the principles of the Baptist denomination. We had gone through a process of clarifying our vision and values in 2022 and looked to build on this. We conducted weekly services and mid-week events to develop our congregation, alongside seeking to bring blessing to our wider local community. In supporting local social projects and creating spaces to explore faith we stayed in line with our core purpose as a charity and church. Life events such as baptisms and the increase in our membership are testimony to the successful fulfilment of our core aims.
## **Goals:**
In 2024 we are reviewing our staffing structure as two of our staff moved to America. We will look to reappoint being aware of our core purpose. The potential development of a family worker role fulfils that purpose and that desire to see children and youth given the opportunity to explore the Christian faith and develop Christian character. We will continue to put on and expand our community events as well as supporting local church development.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The primary source of revenue relates to amounts received from Church members and attendees by way of direct and cash offerings and donations;
## **Investment policy and objectives**
The Church Officers have considered the most appropriate policy for investing funds, which is, at present, to hold surplus finds on deposit at the Church's banks.
Page 1
**PRINCE'S DRIVE BAPTIST CHURCH**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FINANCIAL REVIEW**
## **Reserves policy**
The Church Officers have established a policy whereby the unrestricted funds held by the charity should ensure the essential costs (*) of a full time ministry for six to nine months. Based on the 2023 accounts, this equates to an amount from £58,635 to £87,950 in general funds. Should reserve funds be drawn down as a result of an unforeseen emergency, measures will be taken to restore the reserves to the agreed level within five years.. The policy will be reviewed again at the 2024 AGM.
- (*) Essential costs equate to total annual unrestricted expenditure minus expenditure on gifts and depreciation.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitute an unincorporated charity.
## **Recruitment and appointment of new trustees**
Five weeks (Sundays) before a Church meeting, considering a trustee appointment (re-appointment), nominations are invited from members for the roles; nominations must be submitted in writing with the supporting signature of two other Church Members and the consent of the candidate, to the Church secretary or equivalent. The weeks (Sundays) before the meeting the nominations are published to the members for prayer and consideration. Trustees are appointed for 1,2 or 3 years after which they can be re-appointed by following the same procedure.
In order to avoid the entire trustee body retiring at the same time, appointments are made for different durations of service. The exceptions are the Secretary and Treasurer positions which are for 1 year but can be re-nominated for as many years if they and the membership are content.
## **Organisational structure**
Prince's Drive Baptist Church is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission and operational from 14 April 2022 when it transferred the assets and responsibilities of its predecessor organisation, which was an excepted charity.
## **Risk management**
The Church Officers have conducted their own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. The Church Officers do not consider there to be significant external risks to funding. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and to ensure consistent quality of delivery for all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
1198633
## **Principal address**
Prince's Drive Colwyn Bay CONWY LL29 8LA
Page 2
**PRINCE'S DRIVE BAPTIST CHURCH**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Trustees**
Revd Dr R L Beamish - Baptist Minister Mrs L Beamish P W Dutton (resigned 1.6.23) J K Finch (resigned 19.5.24) K J Hewinson (resigned 6.6.23) Ms R E Verghese (resigned 1.6.23) R W Evans (resigned 9.7.24) B Nuss M Coulton - Treasurer Ms E Coulton R Evans (resigned 4.7.23) R Lander M Gower (appointed 6.6.23) (resigned 9.7.24) Ms H M Gower (appointed 6.6.23) Ms S Watson (appointed 9.7.24) S Davies (appointed 9.7.24) Ms Z McNeil (appointed 9.7.24) J Graham (appointed 9.7.24)
## **Independent Examiner**
Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y Parc Parc Menai Bangor Gwynedd LL57 4FE
Approved by order of the board of trustees on 9 July 2024 and signed on its behalf by:
Revd Dr R L Beamish - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRINCE'S DRIVE BAPTIST CHURCH**
## **Independent examiner's report to the trustees of Prince's Drive Baptist Church**
I report to the charity trustees on my examination of the accounts of Prince's Drive Baptist Church (the Trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Martin Barrett (Senior Statutory Auditor)
Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y Parc Parc Menai Bangor Gwynedd LL57 4FE
9 July 2024
Page 4
**PRINCE'S DRIVE BAPTIST CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**136,602**
Investment income
2
**1,903**
**Total**
**138,505**
**EXPENDITURE ON**
Raising funds
**-**
**Charitable activities**
Gifts
**13,547**
Missions
**6,449**
Manses
**17,359**
Property
**19,993**
Other
**66,585**
**Total**
**123,933**
**NET INCOME/(EXPENDITURE)**
**14,572**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**120,638**
**TOTAL FUNDS CARRIED FORWARD**
**135,210**|Period
14.4.22
**Year Ended**
to
**31.12.23**
31.12.22
Restricted
**Total**
Total
fund
**funds**
funds
£
**£**
£
**-**
**136,602**
93,022
**-**
**1,903**
282
**-**
**138,505**
93,304
**-**
**-**
-
**-**
**13,547**
9,030
**-**
**6,449**
4,736
**-**
**17,359**
12,971
**1,956**
**21,949**
11,765
**-**
**66,585**
55,273
**1,956**
**125,889**
93,775
**(1,956)**
**12,616**
(471)
**462,311**
**582,949**
583,420
**460,355**
**595,565**
582,949|
|---|---|
The notes form part of these financial statements
Page 5
**PRINCE'S DRIVE BAPTIST CHURCH**
## **BALANCE SHEET 31 DECEMBER 2023**
|Notes
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Cash at bank and in hand
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
6
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**20,220**
**114,990**
**114,990**
**135,210**
**135,210**|Restricted
fund
£
**460,355**
**-**
**-**
**460,355**
**460,355**|**2023**
**Total**
**funds**
**£**
**480,575**
**114,990**
**114,990**
**595,565**
**595,565**
**135,210**
**460,355**
**595,565**|2022
Total
funds
£
484,630
98,319|
|---|---|---|---|---|
|||||98,319|
|||||582,949|
|||||582,949|
|||||120,638
462,311|
|||||582,949|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 July 2024 and were signed on its behalf by:
M Coulton - Trustee
R L Beamish - Trustee
The notes form part of these financial statements
Page 6
**PRINCE'S DRIVE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Fixtures and fittings - 20% on reducing balance
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 7
**PRINCE'S DRIVE BAPTIST CHURCH**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
|||Period|
|||14.4.22|
||**Year Ended**|to|
||**31.12.23**|31.12.22|
||**£**|£|
|Deposit account interest|**1,903**|282|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
The trustees received a total remuneration of £29,228 for the year ended 31 December 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the period ended 31 December 2022.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
93,022
Investment income
282
**Total**
93,304
**EXPENDITURE ON**
**Charitable activities**
Gifts
9,030
Missions
4,736
Manses
12,971
Property
9,320
Other
55,273
**Total**
91,330
**NET INCOME/(EXPENDITURE)**
1,974
**RECONCILIATION OF FUNDS**
Total funds brought forward
118,664
**TOTAL FUNDS CARRIED FORWARD**
120,638|Restricted
fund
£
-
-
-
-
-
-
2,445
-
2,445
(2,445)
464,756
462,311|Total
funds
£
93,022
282
93,304
9,030
4,736
12,971
11,765
55,273
93,775
(471)
583,420
582,949|
|---|---|---|
continued...
Page 8
**PRINCE'S DRIVE BAPTIST CHURCH**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **5. TANGIBLE FIXED ASSETS**
|**COST**
At 1 January 2023
Additions
At 31 December 2023
**DEPRECIATION**
At 1 January 2023
Charge for year
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
**6.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Church Buildings
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Church Buildings
**TOTAL FUNDS**|Freehold
property
£
**452,532**
**-**
**452,532**
**-**
**-**
**-**
**452,532**
452,532
At 1.1.23
£
**120,638**
**462,311**
**582,949**
Incoming
resources
£
**138,505**
**-**
**138,505**|Fixtures
and
fittings
Totals
£
£
**40,123**
**492,655**
**2,957**
**2,957**
**43,080**
**495,612**
**8,025**
**8,025**
**7,012**
**7,012**
**15,037**
**15,037**
**28,043**
**480,575**
32,098
484,630
Net
movement
At
in funds
31.12.23
£
£
**14,572**
**135,210**
**(1,956)**
**460,355**
**12,616**
**595,565**
Resources
Movement
expended
in funds
£
£
**(123,933)**
**14,572**
**(1,956)**
**(1,956)**
**(125,889)**
**12,616**|
|---|---|---|
continued...
Page 9
**PRINCE'S DRIVE BAPTIST CHURCH**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At
14.4.22
£
**Unrestricted funds**
General fund
118,664
**Restricted funds**
Church Buildings
464,756
**TOTAL FUNDS**
583,420
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
93,304
**Restricted funds**
Church Buildings
-
**TOTAL FUNDS**
93,304|Net
movement
At
in funds
31.12.22
£
£
1,974
120,638
(2,445)
462,311
(471)
582,949
Resources
Movement
expended
in funds
£
£
(91,330)
1,974
(2,445)
(2,445)
(93,775)
(471)|
|---|---|
## **7. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
Page 10
**PRINCE'S DRIVE BAPTIST CHURCH**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|||Period|
|---|---|---|
|||14.4.22|
||Year Ended|to|
||31.12.23|31.12.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**101,391**|61,210|
|Gift aid|**16,332**|9,672|
|Other income|**18,879**|22,140|
||**136,602**|93,022|
|**Investment income**|||
|Deposit account interest|**1,903**|282|
|**Total incoming resources**|**138,505**|93,304|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Mission costs|**6,449**|4,736|
|Grants - missions|**11,940**|8,530|
|Grants - other|**1,607**|500|
||**19,996**|13,766|
|**Support costs**|||
|**Finance**|||
|Bank charges|**134**|-|
|**Human resources**|||
|Wages|**39,848**|31,433|
|Pensions|**11,348**|8,609|
||**51,196**|40,042|
|**Administration**|||
|Telephone|**871**|489|
|Subscriptions|**2,719**|2,226|
|Event payments|**2,633**|1,534|
|Catering|**1,448**|1,189|
|Equipment|**1,935**|65|
|Expenses|**2,109**|1,562|
|Depreciation|**5,055**|5,580|
||**16,770**|12,645|
This page does not form part of the statutory financial statements
Page 11
**PRINCE'S DRIVE BAPTIST CHURCH**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|||Period|
|---|---|---|
|||14.4.22|
||Year Ended|to|
||31.12.23|31.12.22|
||£|£|
|**Administration**|||
|**Manses**|||
|Rent and rates|**16,466**|10,992|
|Insurance|**798**|894|
|Repairs and maintenance|**95**|1,085|
||**17,359**|12,971|
|**Property**|||
|Rent and rates|**282**|171|
|Insurance|**2,335**|2,272|
|Light and heat|**9,872**|3,511|
|Repairs and maintenance|**1,041**|2,301|
|Cleaning|**1,408**|1,065|
|Depreciation|**1,956**|2,445|
||**16,894**|11,765|
|**Governance costs**|||
|Accountancy and legal fees|**3,540**|2,586|
|Total resources expended|**125,889**|93,775|
|**Net income/(expenditure)**|**12,616**|(471)|
This page does not form part of the statutory financial statements
Page 12